Chit fund: Rahul Brigade demands CBI investigation

BHUBANESWAR: The All India Rahul Gandhi Brigade State unit on Monday staged a demonstration in front of the State Assembly and submitted a memorandum to the Governor demanding a CBI probe into the chit fund scams in the State.

Led by State unit general secretary Baby Tabassum, the activists blasted the State Government for not showing any interest to refund the money of investors.

“The State Government is trying to suppress the chit fund scams by arresting only a few while the real culprits are yet to be booked. Since many ruling BJD MLAs and Ministers are involved in the mega scams, the Crime Branch inquiry will not be impartial. Hence, a CBI inquiry is very urgent to ensure justice to the investors and at the same time to bring the culprits to book,” said Tabassum.

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BHUBANESWAR: The real estate sector in Orissa is passing through a sluggish phase, as demand is less, and so is money circulation. Besides, real estate's association with shady chit fund companies has resulted in a trust­-deficit among customers. D S Tripathy, national joint secretary of the confederation of real estate developers' association of India (CREDAI), shares his thoughts about the present problems, the possi­bilities, and challenges ahead. As told to Raghunath Panigrahi.

BHUBANESWAR: The Odisha High Court on Monday asked chit fund Company Green Ray International to provide it the details of all investors who have deposited money with the company mentioning about the amounts they have invested and the amounts they are likely to get back after maturity of their terms.

BHUBANESWAR: The Bhubaneswar Municipal Corporation (BMC) has authorized its engineering staff to cut drains and roads, blocking rainwater, to prevent waterlogging. The BMC has identified 30 points prone to waterlogging in the city.

BHUBANESWAR: Union Corporate Affairs Minister Sachin Pilot on Friday said if the Odisha Government requests for a CBI inquiry into the chit fund scams in the State, the Union Government would be ready to help.

BHUBANESWAR: Being the Union Minister of Corporate Affairs, Sachin Pilot has failed in his responsibility to regulate and monitor the chit companies as most of them had obtained registration from the Ministry of Corporate Affairs. It was his responsibility to save the investors’ money,” alleged State BJP spokesperson Sajjan Sharma on Friday.

BHUBANESWAR: The families of the soldiers who sacrificed their lives for the nation during various wars have been deprived of the benefits including land under the war veteran quota. There are thousands of acres of land, including plots, for housing families of the soldiers under the quota, but they have been grabbed by influential people, including political leaders, police and bureaucrats.

BHUBANESWAR: Chief Minister Naveen Patnaik after reviewing the bridge construction works here on Thursday directed the Rural Development Department to complete the construction works of at least 200 bridges per year.

BHUBANESWAR: With the hapless investors reeling under the fraudulent money circulation schemes, the Ministry of Corporate Affairs (MoCA) will organise an awareness campaign here on Friday to educate investors.

BHUBANESWAR: The Crime Branch (CB) of Odisha Police on Wednesday arrested two officials of chit fund company Flourish India for allegedly duping investors to the tune of Rs 100 crore in the state. The arrested officials are the company's ex-Managing Director Prasanna Dash and current MD Ballav Prsad Nayak.